UIIC AO vs SBI PO: Which is better?

UIIC AO VS SBI PO

Which is the better career option among the two: Insurance or Banking? The fuel never runs out from this topic and its always up for debate.

Banks prompts people for loans and deposits whereas Insurance as the name suggests makes you feel secure.Fundamentally the two jobs are different. But their examinations have striking similarities viz a viz paper pattern, difficulty level, syllabus etc. This has enabled the large exodus of banking aspirants to insurance sectors.

Let us now take a closer look at both the profiles:

UIIC AO vs SBI PO #1: Job Profile

UIIC AO: Job Profile

As an AO in UIIC, you are required to do administrative work, this would include the following

Formulating new schemes, inspecting policies

Managing and filing claims, client interactions

Coordinating with other departments, provide assistance

Perform any work specified by department head or administrative Officer.

SBI PO: Job Profile

As a Bank PO you are expected to:

Provide services to customers

Enhance business of the bank

Handle cash activities at the bank

Manage Clearance of Payments

Manage accounts of customers

Official communication

UIIC AO vs SBI PO #2: Work Pressure

UIIC AO is a lower level managerial post. After joining you are allotted one/several department and the onus for getting the work done lies on your shoulder. You are taught human resource management, finance, project planning and execution. Scope of work includes underwriting, policy servicing, Marketing, IT, Actuarial, Investment, Audit, etc.

SBI PO’s work includes General Banking, Administrative Task, or any other task bestowed by the senior management from time to time. As a PO in SBI, you will undergo rigorous training to understand the nitty-gritties of Banking and trained for accounting, marketing, investment, billing, finance, human resources, forex, agriculture banking,general banking.

Work pressure wise the only differentiating factor is Customer Engagement. As a PO you have to interact/bring in new customers, however as an AO you are not expected to do that.

UIIC AO vs SBI PO #3: Working hours

UIIC follows a 5 day work week pattern, enabling you to party/utilize the weekend for productive tasks.

All Banks, including SBI have recently started a new policy according to which, 2nd and 4th Saturdays of the month are declared holidays.

This means you miss out on two free holidays in a month and 24 holidays in a year. This is a huge difference when compared on an annual basis, you get close to a month off while working for UIIC as compared to Banks.

UIIC AO vs SBI PO #4: Transfers

Both AO and PO are public sector jobs, making transfers a necessary evil in this comparison.

The transfers mostly take place every 2-5 years.In both Organisations, transfer is on the basis if seniority/promotion.

The plus point with UIIC AO is that most UIIC branches are in city as compared to SBI (which are also located in rural areas). So if you are an AO, you will spent most of your time in cities with a decent lifestyle.

UIIC AO vs SBI PO #5: Salary

As a PO in SBI, you will receive Rs. Rs.40 – 45,000/ month.

As an AO in UIIC, you will receive Rs. 38 – 42,000/ month.

UIIC AO vs SBI PO #6: Perks and Benefits

UIIC provides the following benefits:

Defined Contributory Pension

Special Allowance for passing Actuarial Examination

Gratuity

LTC,

Cash Medical Benefit

Group Mediclaim

Group Personal Accident Insurance

Group Insurance

Vehicle Loan (2-wheeler/4-wheeler) as per rules.

SBI provide the following perks:

Contribution Pension Scheme/New Pension Scheme

Medical Aid for self (100%) and for family (75%)

LTC

Home Travel Concession/ Leave Fare Concession

Concessional interest rates for Housing/Car/Personal Loans

So , as per this criteria, both the posts are approximately equal.

UIIC AO vs SBI PO #7: Future Growth

Promotions in UIIC happen every 3-5 years in the following scale:

AO

ADM

DM

ZM

Promotions in SBI happen every 3-5 years in the following scale:

Bank PO

Assistant Manager

Branch Manager

AGM

GM

UIIC AO vs SBI PO #8: Final Verdict

Thus both have their own pros and cons. If you look from salary and personal life and work angle, it is certainly UIIC AO which scores more but in terms of promotions, it is Bank PO which is much better than UIIC AO. Here’s a list of Pros and Cons of both UIIC AO and SBI PO.